In the current financial year, there has been a possibility of a negative increase of up to 30% in the number of aircraft passengers. This condition is caused by the coronavirus in the present time. Rating agency CARE Ratings has said this in one of its estimates. The agency had estimated a negative growth of up to 20-25% in the industry in its earlier assessment. The agency estimates that due to rules related to social distancing, there may be an increase in air fares in the coming time. In the current situation, all types of domestic and international commercial passenger flight services are suspended till May 3 due to the applicable lockdown in the country.
Oil price below zero for first time in history, know its benefit for India
On Tuesday, the agency said in a note that, "CARE Ratings had projected a negative increase in the number of aircraft passengers by 20-25% in the financial year 2020-21. However, due to increase in cases (of corona), rapid spread and increase in areas with corona hotspots, the duration of the epidemic is seen to be uncertain, as well as no such indication.
Now India can bring fugitive Vijay Mallya back, UK court dismisses petition
Amid corona infection, the rating agency said that the vaccine for this disease has not been found so far. Lockdown can only reduce its spread. Care ratings have said, "We are revising our earlier estimate of the number of aircraft passengers in the financial year 2020-21. Our estimate is now a negative growth of 30%. According to the agency, there was an increase of 13.7% in the number of passengers in the financial year 2018-19, whereas in the period from April to February of the last financial year, it saw a growth of 3.7%.
